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Colombian growth is back on track, says IMF

Friday, October 12, 2018

In its October world economic outlook update, the International Monetary Fund) projected the Colombian economy to grow by 2.8 percent in 2018 and 3.6 percent in 2019.

Unlike Colombia, which is enjoying a significant recovery this year following a nine-year-low 1.8 percent growth rate in 2017, the other largest economies in Latin America continue to struggle.

The IMF downwardly revised the 2018 growth rates of Brazil (to 1.4 percent in 2018), Mexico 2.2 percent, and Argentina minus 2.9 per cent in this most recent update. This was a similar story across the emerging markets, with India, Turkey, South Africa, Russia, and Nigeria all facing negative revisions to their growth forecasts as well.